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Seven CEOs ask Brussels for less

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After meeting Ursula von der Leyen in Brussels, the chief executives of ASML, Airbus, Ericsson, Mistral AI, Nokia, SAP and Siemens published a joint op-ed on Tuesday 5 May calling for simpler AI rules and looser merger control.

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Key takeaway

Mistral signed a deregulation letter three weeks before Brussels' sovereignty package adoption window.

Seven European chief executives published a joint op-ed in Handelsblatt and Corriere della Sera on Tuesday 5 May after meeting Ursula von der Leyen in Brussels⁠¹. The signatories were the Dutch chip-tool maker ASML, Airbus, Ericsson, Mistral AI, Nokia, the German enterprise software firm SAP and Siemens. The headline line: "More than three years after the ChatGPT moment, Europe is still debating regulation, while others have long shifted focus to scaling AI in physical systems and robotics." The asks are reduced and simplified AI rules, looser merger control to allow European scale, industrial-policy support, and tariff-style protection from subsidised rivals.

Mistral AI's signature carries the load. France's flagship sovereign AI company, fresh from the largest AI debt raise in Europe and a French Ministry of Defence framework agreement that requires French-only infrastructure deployment, signed a deregulation letter three weeks before the package the rest of Brussels is preparing. Arthur Mensch, Mistral's chief executive, had earlier proposed a 1 to 1.5 percent EU AI levy for training-data legal certainty; the op-ed asks for less rule-making, not for the levy. The industrial constituency the package is supposedly being built for has gone on the record, in print, in the Commission's own pre-adoption window.

Christophe Fouquet, ASML's chief executive, gives the letter a financial subtext. China fell to 19 percent of system sales in Q1 2026 from 36 percent the previous quarter; Fouquet told analysts the 2026 guidance "accommodates potential outcomes of ongoing discussions around export controls"⁠². A bipartisan US bill, the MATCH Act, introduced on 2 April 2026, would ban all Deep Ultraviolet (DUV) lithography sales to Chinese chipmakers if it passes. ASML's research and development cross-subsidy, which has historically funded Extreme Ultraviolet (EUV) development through DUV revenue from China, is being narrowed by Washington while Brussels has no comparable instrument to replace it. The op-ed's complaint about industrial-policy support is, in ASML's case, a complaint about a missing one.

Deep Analysis

In plain English

Seven of Europe's most prominent tech and industrial companies published a joint opinion piece in major European newspapers on 5 May 2026, the same day they met with the EU's top leader, Ursula von der Leyen. The companies were ASML (Dutch, makes computer-chip machines), Airbus (aerospace), Ericsson (Swedish, telecoms), Mistral AI (French, artificial intelligence), Nokia (Finnish, telecoms), SAP (German, business software), and Siemens (German, industrial technology). They asked the EU to simplify its AI rules, make it easier for companies to merge, provide state support for European tech industries, and protect European companies from competitors in countries like China that receive heavy government subsidies. In short, the companies want less regulation and more protection, in the same week that new EU AI rules are about to take effect.

Deep Analysis

Root Causes

AI regulation under the EU AI Act (Title VII, GPAI obligations) activates on 2 August 2026, yet the Commission's industrial-policy instruments, including the planned Chips Act 2 and CAIDA (Coordinated AI Development and Infrastructure Act), have missed two consecutive legislative deadlines. Compliance costs land before the offsetting subsidies.

The choice of Handelsblatt and Corriere della Sera as publication venues is deliberate: both are read by the German and Italian political-industrial establishments that hold the two largest votes in the EU Council on industrial-policy legislation. The op-ed addresses Council members, not the Commission bureaucracy.

What could happen next?

Consequence
The Von der Leyen meeting gives the op-ed direct executive access; if any of the seven demands appear in the May 27 Tech Sovereignty Package text, the letter will be cited as the proximate cause by both supporters and critics.
Short term · 0.69
Risk
Framing EU AI rules as a competitive liability in a published newspaper piece strengthens the USTR's Section 301 argument that EU digital regulation unfairly burdens US companies, potentially providing cover for retaliatory trade measures.
Medium term · 0.63
Precedent
Cross-sector CEO coalitions lobbying against regulation via published op-eds rather than formal Commission consultation responses signals a shift in European corporate lobbying strategy that smaller firms cannot replicate.
Long term · 0.71

Source Landscape

This story draws on mixed-leaning sources from Germany and United States

Germany

United States

LeftRight

Primary parallel: In 2009, the heads of Volkswagen, Daimler, BMW, BASF, Siemens, and E.ON published a joint statement in Die Zeit calling for EU emissions regulations to include industrial competitiveness safeguards. The letter did not change the 2009 Climate Package targets, but it established the template for 'national champion' coalition lobbying that eventually produced the controversial automotive industry carve-outs in the 2023 Euro 7 negotiations.

Counter-parallel: The 2016 Digital Single Market joint letter from European telcos calling for equal regulation of Over-The-Top services produced no Commission action for three years; the 'sender pays' principle the telcos demanded was still unresolved in 2025. CEO letters achieve agenda-setting rather than outcome-determining results when the Commission lacks political consensus to act.

The seven companies collectively employed approximately 660,000 people in the EU in 2025 and generated combined EU revenues of roughly €280bn (company filings). Their political weight in the Council is substantial, particularly for Germany (ASML operations in Veldhoven are legally Dutch but commercially German-adjacent, Siemens and SAP are domestic champions) and Sweden (Ericsson).

The specific demand for 'tariff-style protection from subsidised rivals' targets Chinese EVs and consumer electronics, but the mechanism would apply to AI hardware: Huawei's 910C AI chip, if subject to an EU tariff, would raise the cost of non-ASML-ecosystem AI infrastructure, directly benefiting the signatories.

Consensus view: Chatham House's Tim Rühlig assesses the joint op-ed as a lobbying document rather than a policy proposal, noting that the seven signatories have materially divergent interests: ASML needs export-control relief (a security-sensitive area), while Mistral needs investment deregulation (a competition-law area), and bundling them in a single letter reduces the likelihood any single demand receives a focused Commission response.

Counter-view: The Chinese Academy of Social Sciences' Institute of European Studies argues the collective CEO letter reflects a genuine convergence of European industrial capital on the view that EU regulation has become a competitive liability. Beijing reads the letter as evidence that EU-US regulatory divergence is generating political pressure that Brussels will eventually accommodate, reducing the durability of EU tech rules as a non-tariff barrier to Chinese tech exports.

Key tension: Whether a joint public letter from seven named corporations shifts Commission policy more effectively than individual lobbying through DG GROW and DG COMP, or whether it is visibility without leverage.

First Reported In

Update #4 · CISPE moves first; Brussels misses again

Handelsblatt· 7 May 2026

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Causes and effects

Caused by

Mistral raises $830m debt for GPU build

Mistral's signature on the deregulation op-ed, three weeks before the sovereignty package, draws political weight from its position as the European AI champion fresh from the largest EU AI debt raise.

Occurred 30 Mar 2026

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This Event

Seven CEOs ask Brussels for less

Mistral's signature lands three weeks before the Tech Sovereignty Package the Commission is preparing for the same industrial constituency, putting the sovereign-AI flagbearer on record asking for less of it.

Led to

AI Omnibus deal splits enforcement into two speeds

The seven-CEO letter (ID:3070) co-signed by Mensch on 5 May preceded the 7 May AI Omnibus deal, which landed on terms closer to industry's request than to the Commission's January draft.

Occurred 7 May 2026

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Mistral buys into the industrial stack

The seven-CEO deregulation letter (ID:3070) co-signed by Mistral contextualises the Emmi acquisition as part of the same strategic pivot.

Occurred 19 May 2026

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Different Perspectives

Cross-border power traders

The France-Germany day-ahead spread flipped from a EUR 17.20 German premium on 1 August to a EUR 4.15 French premium on 3 August, the same day French curtailment peaked. They cannot yet attribute the flip to curtailment alone, since a like-for-like overnight comparison shows French nuclear output rising while wind fell and demand returned on the weekday step.

EDF

River-cooling limits took 7.6 GW, 12 per cent of its fleet, offline on 3 August, the highest curtailment since the heatwave began, with an easing forecast to 4.3 GW on 4 August and 3 GW after. It manages the cut as a recurring seasonal constraint, expecting it to lift with river temperature, not repair.

Gasunie

TTF, the Dutch hub it operates, drifted to roughly EUR 55 to 58 per MWh across the window, staying inside its recent range through both the German spark reversal and the French curtailment. It reads a flat hub price as evidence that neither event this window carried enough weight to move the fuel leg on its own.

German gas-fired generators

Record German solar of 18,761 MW on 2 August pushed the clean spark spread to minus 18.48 EUR/MWh, a loss-making day, before it returned to plus 16.20 on 3 August. They now price dispatch against post-solar residual load rather than wind alone, since the sign flipped inside 48 hours on unchanged fuel and carbon costs.

European Commission (DG Energy)

Its implementing-measures register logged transposition notices from only Portugal and Slovakia against Wednesday's Article 94 deadline for Directive (EU) 2024/1788, with 25 states silent. It expects the register to fill only gradually, since filing routinely lags legislating and any infringement track against non-notifying states runs on a slower clock than the deadline itself.

Spain's LNG terminal operators

Spain's 9,145 GWh terminal inventory is the largest single stock in the EU LNG network, an option value that can reroute cargoes wherever the winter strip pays best rather than a cavern gas obligation tied to a fixed date. That flexibility matters more as Germany's cavern shortfall pushes more of the winter security question onto import infrastructure.

Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Editorial standards.